We’ve got some interesting action after hours with Cohn’s resignation. This is the chart that will tell us tomorrow whether or not we buy the dip or go with the down move. Also — no matter where we open, I’ll be buying the dip on this stock.
Intraday time frames and a preference to remain flat at the end of the day continues to make sense. Cohn’s resignation is sending waves through the market into the Asian session.
Monday’s rally was enough to shake shorts from some oversold readings we got on Friday; from here the heavy lifting begins. And while I don’t think bulls are in the clear, certain sectors are holding up well and will be important to follow as we take this from one decision to the next.
With plenty of central bank activity leading up into Non Farm Payroll, gold, currencies, and volatility are in play. Neil Yeager’s weekly market update.
When the indexes had another gap down on Friday, things weren’t looking good for bulls. But if you can keep your composure, and know that there is still opportunity out there, then you can come up with trades like we did today. Let’s discuss the portfolio from top to bottom, and see what might be … Read more
In addition to the S&P 500, several markets showed signs of potential turns today. Bonds triggered the short signal we were looking for, Euro is turning back up. The idea of Crude turning back down here is more tenuous but perhaps rewarding if it works.
This was a choppy end of the day and here’s the breakdown of the closing session — the distinctions from today are lessons; ones that will keep a trader out of trouble when the markets get tricky.